Empirical evidence suggests that globalization and trade openness have contributed significantly to the economic growth and development of many countries across the globe. During the period 1980 to 2002, there has been a spectacular increase in the world trade volume: nearly a threefold increase. Technological revolution ad the resulting decline in the cost of transport and communication have led to greater integration of the global economy. Reduction of trade ...
Globalization, International Trade and World Welfare
